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CBA supports the principles of customer choice, transparency, and fairness in deposit account partnerships. Recently-enacted federal regulation has afforded consumers greater protection via detailed disclosures. Absent substantial evidence that this regulation is failing or falling short of its intended purpose, CBA believes further incremental changes to the rules governing overdraft protection will only add logistical complexity and increased consumer confusion without corresponding benefits. CBA believes coordination among the federal banking regulators will lead to more regulatory certainty for financial institutions and greater clarity for consumers.
- May 12, 2015Washington, D.C. (May 12, 2015) – Richard Hunt, President and CEO of the Consumer Bankers Association (CBA), issued the following statement in response to a 2015 Pew report entitled, “Checks and Balances.” “Consumer choice is paramount in our industry, and CBA believes customers should be able to decide how best to meet their short-term funding needs. As Pew highlights in its 2015 report, 100% of...
- May 1, 2015CFPB Announces Webinar on TRID Rule On Thursday, April 30, 2015, the CFPB announced it will hold a 60-minute webinar on Tuesday, May 26, 2015 at 2 p.m. EDT to answer frequently asked questions about the TILA/RESPA Integrated Disclosure rule (TRID). The webinar will be hosted by the Federal Reserve. Those interested may register here . CFPB Takes Action on Mortgage Kickbacks On Wednesday, April 29...
- March 20, 2015CBA LIVE 2015: The Consumer Agenda – It's Here! T-minus 3 days before you learn all things consumer — their thoughts, their goals, their attitudes, and what speaks to their souls. Sunny Florida awaits the arrival of the largest gathering of retail banking executives this year. CBA LIVE 2015 marks our fifth straight year of record attendance with nearly 1,300 registrants (and counting), 579 of...
- February 27, 2015Regulators Release Guidance to Encourage Youth Savings Programs On Wednesday, February 25, 2015, the Financial Literacy Education Commission ( FLEC ) held a public meeting at the U.S. Department of Treasury in Washington, D.C., which focused on youth savings programs, and highlighted partnerships between the public and private sector to encourage strong financial skills in young people. The...
- February 20, 2015OCC Handbook on Overdraft to be Amended Shortly before Valentine's Day, (February 11, 2015), the OCC issued a revised Handbook for examiners entitled: "Deposit-Related Consumer Credit" (DRCC). The Handbook was unexpected and generated a number of questions. In addition to offering general guidance, it raised a new primary concern – it appeared to make new policy by requiring institutions...